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Agency

• Is a security issued by a government organization but not the treasury. These organizations include: the Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac), the Federal National Mortgage Association (FNMA or Fannie Mae), the Government National Mortgage Association (GNMA or Ginnie Mae).

 
 Embedded terms in definition
 Corporation
Federal home loan mortgage corporation
Federal national mortgage association
Freddie mac
Ginnie mae
Mortgage
Security
 
 Referenced Terms
 Agencies: Federal Agency securities.Shorthand market terminology for any obligation issued by a government-sponsored entity (GSE), or a federally related institution. Obligations of GSEs are not guaranteed by the full faith and credit of the US government. There are eight GSEs, five of which are currently active in the new issue market.Federal Agency securities. See also agency bank.

 Agencies: Federal Agency securities.Shorthand market terminology for any obligation issued by a government-sponsored entity (GSE), or a federally related institution. Obligations of GSEs are not guaranteed by the full faith and credit of the US government. There are eight GSEs, five of which are currently active in the new issue market.Federal Agency securities. See also agency bank.

 Agency bank: A form of organization commonly used by foreign banks to enter the U.S. market. An Agency bank cannot accept deposits or extend loans in its own name; it acts as agent for the parent bank.A form of organization commonly used by foreign banks to enter the U.S. market. An Agency bank cannot accept deposits or extend loans in its own name; it acts as an agent for the parent bank. Term often used on the Street to refer to both foreign bank agencies and branches.

 Agency bank: A form of organization commonly used by foreign banks to enter the U.S. market. An Agency bank cannot accept deposits or extend loans in its own name; it acts as agent for the parent bank.A form of organization commonly used by foreign banks to enter the U.S. market. An Agency bank cannot accept deposits or extend loans in its own name; it acts as an agent for the parent bank. Term often used on the Street to refer to both foreign bank agencies and branches.

 Agency basis: A means of compensating the broker of a program trade solely on the basis of commissionestablished through bids submitted by various brokerage firms. Agency incentive arrangement. A means of compensating the broker of a program trade using benchmark prices for issues to be traded in determiningcommissions or fees.

 
 Related Terms
 Agency bank
Agency basis
Agency cost view
Agency costs
Agency deals
Agency pass throughs
Agency problem
Agency theory
Federal agency issues
Federal agency securities
Fiscal agency agreement

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